GP Günter Papenburg Aktiengesellschaft, as the second largest shareholder of the German steel producer Salzgitter AG, plans to buy back all shares of the company. This is reported in the press release of Günter Papenburg.
Günter Papenburg has attracted TSR Recycling GmbH & Co. KG as a partner to apply for a voluntary public takeover of Salzgitter. The consortium must collect at least 45% plus one share before the deadline for accepting the offer in order to ensure the necessary level of control over the company.
Currently, Günter Papenburg Aktiengesellschaft owns 25% of Salzgitter shares.
The price range of the proposed transaction has not yet been determined. The market value of Salzgitter is 832.3 million euros ($905.8 million).
The proposed takeover of Salzgitter has aroused interest among investors, as the company is one of the key steel producers in Germany and Europe. A potential takeover could have important implications for both the steel market and the entire industry, as the transfer of control to the consortium could affect the company's long-term strategy, its investment projects and market positions.
Salzgitter is a German steel company headquartered in Salzgitter (Germany). Salzgitter Gruppe includes more than 100 companies, including: Salzgitter Flachstahl, Ilsenburger Grobblech, Peiner Träger GmbH and Mannesmannröhre Werke. In 2021, the group's sales amounted to 9.8 billion euros. Sazlgitter is the fifth largest European manufacturer of flat and long products and holds a leading position in the pipe manufacturing sector.
GP Günter Papenburg AG is a group of companies in the field of construction, transportation, production of construction machinery and concrete products. The headquarters is located in Hanover (Germany).
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